The intelligencer. [volume] (Lexington, Mo.) 1887-1891, 1887-07-09

prlsoned In our state. The legislature
was called together in extra session to
attempt a settlement this spring. The
state bonds are chiefly held in England.
The holders sent a committee of con-
ference but the two parties failed to
agree. As | understand the matter,
not legally nor morally liable for more
than two-thirds the bonds issued; on
the ground that it has been dismem-
bered since the bonds were sold, and
one third of her territory formed into
the state of West Virginia. This is
| admitted 10 be inst by the hOndholders,
and makes the Virginia portion of the
debt about S33, 100000 The Riddle
| berger settlement is on tins basis, and
undertakes to issue funding bonds to
the amount S22 100000 at per cent.
to cancel the entire debt so far as Vir-
gInia Is concerned. The bond holders
refuse TO accept this compromise, and
propose to reduce the interest but make
little concession on the principal. The
legislative committee this spring agreed
to increase the principal to S25, 900, 900,
but IL was also rejected. 1t is urged
in favor of reducing the principal of
the debt that the state has been greatly
impoverished by the destructive waste
OF the war, the loss of its currency
and OF many OF its securities, the burn
ing OF its houses and barns, the freeing
OF It's slaves, and the death of many of
its producers, SO that it is not now
able to pay either principal or interest
of its immense bonded debt. In proof
OF this, it refers to the statistics of its
taxable property, and shows that it
cannot bear higher rate of taxation
than sufficient to pay three per cent. Ou
| twenty-five millions of dollars. The
| committee of bond holders, looking at
these figures, demand that the charities
and schools of the state shall have
| their annuities 80 reduced that larger
amount may be given to the public
debt. This the legislature refused to
do, for the reason that the amounts
! now bestowed OH these objects are
barely enough to sustain them. This
seems TO be true from the fact that
the public school teachers in this coun-
ty are paid only about twO-t thirds
what they receive in Lafayette. This
debt question, however, is a disturbing
influence in the states politics. 1t was
| on it that Malone rode into power. 1t
divided the democrats. Some are in
favor of meeting the demands of the
bond-hOlders; others insist on the Rid
dleberger settlement; while still 9TH
ers, and doubtless the majority, are in
favor Of compromise between the
two. What effect this may have on
the next election, cannot tell. Malone
may make the Riddleberger basis his
rallying cry, and as result draw off
enough democrats to carry the legisla-
tere and restore himself TO the senate.
The tariff and the Blair educational
bill are also distracting influences. The
Richmond Dispatch, the most widely
circulated paper in the state, Is a fol.
lower of Randall and AN advocate OF
the Blair bill. The old line democrats,
the men that respect themselves and
their state, the men that are for princi-
pie and not for the loaves and fishes,
for the most part follow the lead of
that pure patriot, profound jurist, and
honest man, the Hon. j. Randolph
Tucker, and repudiate both protec.
tive tariff and the Blair bill. AS the
popular cry is the other way, these
self-respecting men feel no enthusiasm
for the election of candidates hose
most prominent principles they reject.
So far AS l can learn, this is the main
reason of the democratic defeat last
fall. This county, for example, gave
four hundred majority for the republi-
can candidate for congress last Novem
ber, and few weeks since elected the
democratic county ticket by nearly
the same figures.
In nothing have been so disappoint.
ed here as in the press. Before the |
war it was noted tor its ability. The
Richmond papers were in the hands of
giants, and ranked with the metropoli-
tan press of New York. Now they
have sunk to the level of the country
papers of the west. 1t is no compli.
lnent to the IntelIigencer to say that it
s fully equal to the Richmond
Dispatch. The local papers of this
seat of learning and refinement are
surpassed by every sheet published in
Lafayette county, both in literary and
artistic excellence. There are, more
'ver, but two here, while You have
light.
GTn he Toof;ono<y I